Ford Motor Co. to spend $740 million on Corktown campus

1.2 million-square-foot project to involve overhaul of train depot, former book depository

Project expected to be complete within the next four years

Ford asking for local, state, federal tax incentives totaling about $250 million over 34 years

Ford Motor Co.

A rendering shows Ford Motor Co.'s desired result of its expected renovation of Michigan Central Station in Detroit's Corktown. The company said Tuesday it plans to spend $740 million redeveloping the depot and several other nearby sites.

Ford Motor Co. anticipates spending $740 million on its campus in Corktown, a company executive said Tuesday night.

It's the first public disclosure about how much Ford will invest in the sweeping 1.2 million-square-foot project spread across five buildings, including the vacant and rundown Michigan Central Station, which is slated to serve as the anchor for the campus centered around autonomous and electric vehicle technology.

Richard Bardelli, program manager for Ford Land Development Co., the real estate arm of the Dearborn-based automotive giant, said Tuesday during a meeting of the newly convened Neighborhood Advisory Committee that the project will involve a complete overhaul of the 104-year-old train depot at 2001 15th St. and a former Detroit Public Schools book depository at 2231 Dalzelle St. In addition, a dilapidated former brass factory at 2200 Rosa Parks Blvd. will be demolished to make way for a 290,000-square-foot, four-story building.

And two new parking decks are expected to be constructed as part of the project, which is anticipated to be complete within the next four years.

The two-hour meeting took place at the International Brotherhood of Electrical Workers No. 58 building on Abbott Street.

The depot is expected to be turned into about 313,000 square feet of office space, about 42,000 square feet of residential space spread across 40 or so units, 43,000 square feet of commercial space and 60,000 square feet of event space.

The book depository, designed by Albert Kahn, is expected to be transformed into 205,000 square feet of office space and 20,000 square feet of commercial space.

The former brass factory is slated to be leveled starting later this year. What will rise in its stead is slated to be a 290,000-square-foot building with 247,500 square feet of office/lab space along with 42,250 square feet of commercial space.

Major construction work on the train station is expected to begin early next year, with a year being spent stabilizing the building and another two years spent restoring it. Major work on the book depository is expected to begin early next year.

By the time Ford completes the project, it's slated to employ about 2,500 Ford workers and another 2,500 workers from other "partner" companies.

Ford is asking for local, state and federal tax incentives totaling about $250 million over 34 years, a company representative said Tuesday. They include things like Neighborhood Enterprise Zone and Obsolete Property Rehabilitation Act property tax abatements from the city.